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Using artificial intelligence for MANAGING FINANCIAL RISK

The internet is not the same as it was a decade ago. A lot of changes and developments have taken place and taken the virtual world to the next level. People are far, yet they are virtually connected almost 24/7. For now, it can be said that the internet is the next big thing that people are talking about. With the augmentation of artificial intelligence and Machine Learning Solutions, the internet has become like just another world. Organizations are making use of this technology to grow their online business presence and attract more lucrative prospects to their business. 

The modern-day industries follow a consumer-driven approach, where the customer experience is considered to be the epicenter of the business. With the continuous evolution of modern technology is driving consumer behavior, an important aspect of modern technology has become a transformation champion – Artificial Intelligence. Ranging from manufacturing agencies to digital services, the AI field has succeeded in to change the industries. In this digital era, AI is having a crucial position in reshaping the area of web development.

Using artificial intelligence for MANAGING RISK

In the finance world, time is money. But the risk can be deadly if it is not given the required attention. The accurate forecasts predictions are considered to be crucial for both the speed and the protection of many businesses. The Financial markets are turning extensively to machine learning, which is a subset of artificial intelligence, to provide more nimble models. These predictions aid the financial experts to utilize the existing data to pinpoint the trends, identify the risks, conserve the manpower and ensure better information for future planning.

The following examples reflect on how AI is assisting the financial and banking institutions to improve the predictions and to manage the risk. 


1. KENSHO

Kensho offers machine intelligence as well as data analytics to the leading financial institutions such as Bank of America, J.P. Morgan, Morgan Stanley, and S&P Global. Kensho’s software provides analytical solutions by using a combination of cloud computing with natural language processing (NLP). The organization's systems can give answers to complex financial issues in simple English language which can be understood by all very easily.


2. AYASDI

Ayasdi has created a cloud-based and on-premise machine intelligence solutions that can be used by the enterprises and organizations to solve several complex financial challenges. For the companies in the fin-tech space, the solutions are deployed to understand as well as manage the risk, anticipate the needs of the customers and even help in the task of anti-money laundering processes.


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